Payables Management

Two levels of account reconciliation service are available.

• Partial reconciliation: Provides reconciliation of paid checks only.
• Full reconciliation: Includes full reconciliation of both paid and outstanding checks.

Deters check fraud by comparing checks presented for payment with those issued. Non-matching items are marked as suspect and are referred to you for a pay/no pay decision.

Advises you of your required daily funding by providing early morning notification of what checks will be presented for the day. On the day of presentment, the total amount of the day's clearings is automatically debited from your account, eliminating any manual transfers.

Ensures automated settlement and reporting, automatic returns re-presentment and improved cash forecasting.

Flagstar Bank provides your business with various employee payment alternatives. Options include:

• Direct Deposit: enables your employees to have their paycheck electronically deposited into their accounts. 
• Payroll Card: allows you to pay those employees that do not have a checking account via direct deposit to their payroll card. 
• Check Cashers: provides your employees with an easy method of cashing their paychecks at specified locations, without inconvenient and costly check cashing fees. 
• On-site Payroll: allows employees to receive their pay onsite while eliminating payroll check reconciliation.

Enables attorneys and title companies to issue official bank checks without having to visit a Flagstar Bank location. Once your request is approved online by the Bank, you can print the checks locally on a dedicated printer.